A company is not required to prepare both an:
A) income statement and statement of stockholders' equity.
B) income statement and statement of retained earnings.
C) statement of stockholders' equity and statement of retained earnings.
D) statement of cash flows and statement of retained earnings.

Question

Quizplus · Accepted Answer

The statement of stockholders' equity and the statement of retained earnings often overlap, as retained earnings is a component of stockholders' equity. Therefore, a company may not need to prepare both separately.

A Company Is Not Required to Prepare Both An